Pennies Not Perfection's video: 9 Roth IRA Mistakes That Cost You Money AVOID THESE

Roth IRAs are amazing for investing for retirement, but many people make mistakes with these accounts. In this video I cover the most common Roth IRA mistakes I've seen. I recommend these companies for opening a Roth IRA: ➝ M1 Finance: https://penniesnotperfection.com/M1Finance ➝ Vanguard: https://investor.vanguard.com/accounts-plans/iras ➝ Fidelity: https://www.fidelity.com/ Mistakes to avoid: 1. Not using a Roth IRA because you already have a 401k. 2. Not actually investing the money. 3. Not maxing out your account for the year. 4. Not contributing for both people if you are married. 5. Taking too much risk with investments. 6. Not considering your tax brackets. 7. Breaking the rules on contributions. 8. Investing before you paid off high interest debt like credit cards. 9. Not keeping your beneficiaries updated. Want more Roth IRA info? Watch more of my Roth IRA 101 videos: https://www.youtube.com/playlist?list=PLhf4jGRzee7eo2gBLMxqAVJqlO7g5V1NS Roth IRA rules found here: https://www.irs.gov/retirement-plans/roth-iras Roth Savings Challenge plans for weekly and biweekly contributions: https://shop.penniesnotperfection.com/products/roth-ira-challenges-printable Want to say thank you? 🔹 Buy Me A Coffee: https://www.buymeacoffee.com/YouTubePennies 🔹 Venmo/CashApp: @marypennies $marypennies 🔹 Shop: https://penniesnotperfection.com/shop/ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ RECOMMENDED*: ⭐️ M1 Finance (Investing app) ➝ https://penniesnotperfection.com/M1Referral ⭐️ Rakuten (Cash back app) ➝ https://penniesnotperfection.com/Rakuten ⭐️ Fetch Rewards (Receipt scans app, $2 referral code, MV7RR) ➝ https://bit.ly/2G0vEtZ ⭐️ Personal Capital (Monitor net worth) ➝ https://penniesnotperfection.com/NetWorth ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ CONTACT ME: 🔹 Website: http://penniesnotperfection.com 🔹 Shop: https://penniesnotperfection.com/shop/ 🔹 Instagram: https://www.instagram.com/penniesnotperfection Mary P.O. Box 240981 Memphis, TN 38124 ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ **The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. I am not a professional and this channel is for entertainment purposes only. Do your own research!! *Affiliate links. I get commissions for purchases you make through links shown here. It doesn't affect your purchase in any way and the commissions help support this channel. I only recommend items I personally use and appreciate the opportunity to share.